Trustmark National Bank Trust Department Has $650,000 Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Trustmark National Bank Trust Department lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,472 shares of the financial services provider’s stock after buying an additional 1,547 shares during the period. Trustmark National Bank Trust Department’s holdings in Fifth Third Bancorp were worth $650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in Fifth Third Bancorp in the 1st quarter valued at $29,000. Denali Advisors LLC bought a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $36,000. Friedenthal Financial acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $48,000. Centerpoint Advisors LLC grew its holdings in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Fifth Third Bancorp by 83.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 695 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Up 1.2 %

NASDAQ FITB traded up $0.47 during trading on Tuesday, hitting $41.33. The company had a trading volume of 1,955,156 shares, compared to its average volume of 4,880,835. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $41.59. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average is $37.15 and its 200-day moving average is $35.99. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.29 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.39%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

FITB has been the subject of a number of recent research reports. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, May 31st. UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $40.15.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.